walkitout (walkitout) wrote,
walkitout
walkitout

lots of bank failures and one cool chart

http://dshort.com/charts/bears/four-bears-large.gif

Downey finally went under as did PFF. All of this thanks to Calculated Risk.

Apparently there are a lot of people (a) forecasting unemployment to break past 8% (nationwide -- it's that bad already in California) and (b) the recovery isn't going to start until the end of next year or later.

That chart is actually really creepy.

ETA: Want to know where the TARP money has gone?

http://www.treas.gov/initiatives/eesa/transactions.shtml

What's really scary is how many individual financial houses have gotten $25 billion already -- and in at least one case, that's not nearly enough (Citi). Poor Detroit. Three companies can't even get collectively what more than three companies on Wall Street got individually.

At what point are we allowed to start discussing doing violence to the persons of the executives who got us into this mess?
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